Spore market: Spore shares have a positive lead from Wall Street, which gained on increased optimism about plans to recapitalize euro-zone banks, however the local market's recent rally may tempt some investors to take some profit, so any gains are likely to be limited.
Wednesday, the benchmark STI closed +1.7% at 2738, its fifth straight session of gains and taking its rally over that time to 8.3%.
"Near-term we could still be heading to the 2800 level but the trading volume that has accompanied this sharp rally has been muted, so the rally might not be sustainable on a medium-term basis...near term there may still be some upside but I think people will sooner or later start selling into this strength," says an analyst at a local brokerage.
In the regional markets, KOSPI +1.25%, Nikkei +1.1% as at 8.34am.
CapitaCommercial Trust and SPH may be in focus after posting earnings results, while SIA may also see interest after getting draft approval from Australia's competition regulator of its proposed alliance with Virgin Australia.
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